Perfect Paint mixes ingredients A ($30/liter), B ($20/liter), and C ($25/liter) in the ratio 3:2:1 to make their product. Calculate the cost per liter of the final mixture. (Financial Accounting) 4 marks Answer?
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Perfect Paint mixes ingredients A ($30/liter), B ($20/liter), and C ($25/liter) in the ratio 3:2:1 to make their product. Calculate the cost per liter of the final mixture. (Financial Accounting) 4 marks Answer?
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- The senior buyer at How Does Your Garden Grow Inc. needs to select a supplier for plastic patio chairs for a one-year contract. The chairs will be shipped to the company's distribution center in Toledo, Ohio. Three potential suppliers have been identified and the data were gathered. Company Annual sales Plant location Purchase price per unit Quality (defective parts per million) Delivery (% on time) Transportation time Supplier Assessment Scores Category Quality performance and systems Management capabilities and attitudes ABC Molding $9 million Erie, PA $8.40 280 ppm Delivery performance Purchase price Total Weighted Score 98.5% 1 day *Shipping is not included. pictureClick here for the Excel Data File a. Complete the weighted-point model. (Round your answers to 1 decimal place.) Weight 50% 10% 20% 20% ABC Molding Rating 3 3 Perfection Plastics $73 million Oakland, CA $10.55 64 ppm 4 5 90% 5 days Score Perfection Plastics Rating Score 5 4 2 2 1-Products $34 million St. Louis, MO…A company manufactures three products, L-Ten, Triol, and Pioze, from a joint process. Each production run costs $12,800. None of the products can be sold at split-off, but must be processed further. Information on one batch of the three products is as follows: Product L-Ten Triol Pioze Grades L-Ten Triol Pioze Gallons Total 3,300 3,800 2,500 Further Processing Cost per Gallon $0.40 0.90 Required: 1. Allocate the joint cost to L-Ten, Triol, and Pioze using the net realizable value method. Round your allocation percentages to four decimal places and round the allocated costs to the nearest dollar. 1.40 Joint Cost Eventual Market Price per Gallon $2.20 Allocation 4.90 6.30Use the following standard cost card for 1 gallon of ice cream to answer the questions. STANDARD COST CARD Product: Gallon of Ice Cream Manufactering cost info Standard Quantity x standard cost per unitx x cost summary direct materials cream sugar 5 quarts 16 ounces x $1.15 per quart $0.08 per ounce x $5.75 $1.28 direct labor 3 min x $36.00 per hour x $1.80 total direct costs x x $8.83 Actual direct costs incurred to make 50 gallons of ice cream: 275 quarts of cream at $1.05 per quart 832 ounces of sugar at $0.075 per ounce 165 minutes of labor at $37 per hour All material used was bought during the current period. Required: Compute the material and labor variances. Comment on the results and possible causes of the variances.
- Problems 1. Use the following standard cost card for 1 gallon of ice cream to answer the questions. Product: Gallon of Ice Cream Manufacturing Costs Direct Materials Cream Sugar Direct Labor Total Direct Costs K Standard Cost Card Standard Quantity 5 quarts 16 ounces 3 minutes x Standard Cost per Unit $1.15 per quart $.08 per ounce $36.00 per hour Actual direct costs incurred to make 50 gallons of ice cream: • 275 quarts of cream at $1.05 per quart • 832 ounces of sugar at $0.075 per ounce • 165 minutes of labor at $37 per hour All material used was bought during the current period. = Cost Summary $5.75 $1.28 $1.80 $8.83 a. Compute the material price, quantity and total variances. b. Compute the labor price quantity, and total variances. What are possible causes of the material and labor variances with respect to the company?Apply mathematical skills around cost structures and appropriate equations to answer the following, inclusive of all associated workings to maximise marks: A convenience store buys 1-gallon jugs of milk for $2.99 and sells them for $4.29. What is the margin they earn on the milk? Please round your answer to the nearest tenth of a percent.cercise 11-5 (Algo) Volume Trade-Off Decisions [LO11-5] utdoor Luggage, Incorporated, makes high-end hard-sided luggage for sports equipment. Data concerning three of the mpany's most popular models appear below. Selling price per unit Variable cost per unit Plastic injection molding machine processing time. required to produce one unit Pounds of plastic pellets per unit S Which product offers the most profitable use of the plastic pellets? Which product has the largest contribution margin per unit? Required 1 Required 2 Complete this question by entering your answers in the tabs below. Required 3 Required 4 quired: f we assume that the total time available on the plastic injection molding machine is the constraint in the production ocess, how much contribution margin per minute of the constrained resource is earned by each product? Which product offers the most profitable use of the plastic injection molding machine? If we assume that a severe shortage of plastic pellets has required…